OECD Secretary-General: coronavirus “war” demands joint action

This article is brought to you in association with OECD. OECD Secretary-General Angel Gurría called today for sweeping joint action by governments to defeat the health, economic, and social threats of the coronavirus (Covid-19) pandemic.  In calling on governments to better coordinate their efforts, Gurría announced that the OECD would channel its efforts into immediate support […]

Costa Rica has improved its foreign bribery legislation but must strengthen enforcement and close legal loopholes

This article is brought to you in association with OECD. Costa Rica recently strengthened its anti-bribery laws by introducing corporate criminal liability. Despite this achievement, loopholes in the definition of the foreign bribery offence and its enforcement raise significant concerns, according to a new report by the OECD Working Group on Bribery. The 44-country Working Group […]

How’s Life? reveals improvements in well-being but persistent inequalities

This article is brought to you in association with OECD. Life has generally improved for many people in OECD countries over the past 10 years but inequalities persist and insecurity, despair and disconnection affect significant parts of the population, according to a new report. OECD’s latest How’s Life? report says household disposable income per capita has […]

New systemic approach needed to tackle global challenges

This article is brought to you in association with OECD. The impacts of the coronavirus on people’s health and daily life, stock markets, and businesses illustrate the increasingly interconnected nature of the challenges facing governments around the world. Putting systemic thinking at the centre of policy making will be essential to address these issues in an […]

Global economy faces gravest threat since the crisis as coronavirus spreads

This article is brought to you in association with OECD. The coronavirus Covid-19 presents the global economy with its greatest danger since the financial crisis, according to the OECD’s latest Interim Economic Outlook. Covid-19 is spreading from China to other regions causing human suffering and economic disruption. It is raising health concerns and the risk of […]

Violence in North and West Africa increasingly targeting civilian and border areas – OECD/SWAC

This article is brought to you in association with OECD. Violence in North and West Africa is increasingly targeting civilian and border regions as today’s conflicts involve non-state actors with diverging agendas, according to a new report by the OECD’s Sahel and West Africa Club (SWAC).   The report uses granular data to assess the intensity […]

Corporate bond debt continues to pile up

This article is brought to you in association with OECD. The volume of corporate debt reached an all time high in real terms of USD 13.5 trillion at the end of 2019, driven by the return of more expansionary monetary policies early in the year. At the same time, the overall quality of corporate debt has […]

Ireland: prepare now for rising fiscal pressures, external risks

This article is brought to you in association with OECD. Ireland needs to prepare itself to meet rising pressures on public finances from an ageing population and significant external risks such as new EU-UK trade barriers post Brexit. Another important development could be future changes to the international tax rules, according to a new OECD report. […]

OECD presents analysis showing significant impact of proposed international tax reforms

This article is brought to you in association with OECD. New economic analysis shows that a proposed solution to the tax challenges arising from the digitalisation of the economy under negotiation at the OECD would have a significant positive impact on global tax revenues. The analysis, released today, puts the combined effect of the two-pillar solution […]

Violence in North and West Africa increasingly targeting civilian and border areas – OECD/SWAC

  This article is brought to you in association with OECD. Violence in North and West Africa is increasingly targeting civilian and border regions as today’s conflicts involve non-state actors with diverging agendas, according to a new report by the OECD’s Sahel and West Africa Club (SWAC).   The report uses granular data to assess the […]

Harmonised Unemployment Rates (HURs), OECD – Updated: February 2020

This article is brought to you in association with OECD. The OECD unemployment rate remained stable at 5.1% in December 2019. Across the OECD area, 32.6 million people were unemployed, around the level before the financial crisis. In the euro area, the unemployment rate declined to 7.4% in December (from 7.5% in November), the same level […]

International community renews commitment to multilateral efforts to address tax challenges from digitalisation of the economy

This article is brought to you in association with OECD. The international community reaffirmed its commitment to reach a consensus-based long-term solution to the tax challenges arising from the digitalisation of the economy, and will continue working toward an agreement by the end of 2020, according to the Statement by the Inclusive Framework on BEPS released […]

Belgium: keep up reforms to increase employment and productivity growth

This article is brought to you in association with OECD. Belgium’s tax, labour, pension and education reforms have improved the potential for stronger, sustainable and inclusive growth over the long term. Keeping up this momentum on structural reforms is key to energise the economy and keep it resilient to external risks and uncertainties, according to a […]

Improving Italy’s capital market will boost growth opportunities for Italian companies and savers

This article is brought to you in association with OECD. Italy’s structural reforms of recent years have improved the financial health of the corporate sector and contributed to a gradual economic recovery. However, the Italian economy still lags other large European economies. Improving the way capital markets function would help drive investment in the real economy, […]

Teenagers’ career expectations narrowing to limited range of jobs, OECD PISA report finds

This article is brought to you in association with OECD. Huge changes to the world of work over the past two decades have made little impact on teenagers’ career expectations, which have become more concentrated in fewer occupations, according to a new OECD report. Dream jobs: Teenagers’ career aspirations and the future of work says 47% […]

Statement by OECD Secretary-General Angel Gurría on the outcome of COP 25

This article is brought to you in association with OECD. I am very disappointed that COP25 in Madrid did not achieve the decisive, collective and ambitious outcomes that the climate emergency demands from world leaders. Despite the commendable efforts by Chile as Chair and the impressive work by Spain as host, this unsatisfactory result reflects the […]

OECD welcomes foreign bribery enforcement efforts and urges Colombia to mobilise key government and law enforcement agencies in the fight against foreign bribery

This article is brought to you in association with OECD. Just two years after the entry into force of its corporate liability legislation, Colombia concluded its first foreign bribery case against a corporation in 2018 and is currently carrying out 20 foreign bribery investigations into companies. These are encouraging steps, and Colombia should now increase the […]

Brazil identifies a clear pathway for aligning its transfer pricing framework with the OECD standard

This article is brought to you in association with OECD. Brazil has identified a clear pathway for bringing its existing transfer pricing framework into alignment with the international consensus, and is weighing two options – immediate or gradual implementation, according to a new joint report by the OECD and Receita Federal, Brazil’s federal revenue authority (RFB). […]

Estonia: use robust growth to improve income equality and well-being

This article is brought to you in association with OECD. Estonia’s economy is performing well, and public finances are in excellent shape, yet growth is softening and spending pressures from infrastructure needs and an ageing population are mounting. Efforts should now focus on improving income equality and well-being, greening growth and accelerating the country’s digital transformation, […]

Russia is ready for its Phase 3 evaluation once it fulfills high-priority recommendation

This article is brought to you in association with OECD. The OECD Working Group on Bribery considers that it is ready to conduct the Phase 3 evaluation of the Russian Federation, provided that Russia further aligns its foreign bribery offence with the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions (OECD Anti-Bribery […]

GDP growth slows in most G20 economies in third quarter of 2019

This article is brought to you in association with OECD. Growth of real gross domestic product (GDP) in the G20 area as a whole was stable at 0.7% in the third quarter of 2019, according to provisional estimates, but it slowed in the majority of G20 economies. GDP contracted in South Africa (by 0.1%, following growth […]

India: step up reform efforts to increase quality jobs and incomes

This article is brought to you in association with OECD. India is set for a modest recovery after a loss of momentum, as reforms to simplify taxation, lighten business regulations and upgrade infrastructure start to bear fruit. Further reforms to modernise the economy are now needed to drive the creation of high-quality jobs, as well as […]

Tax revenues have reached a plateau

This article is brought to you in association with OECD. Tax revenues in advanced economies reached a plateau during 2018, with almost no change seen since 2017, according to new OECD research. This ends the trend of annual increases in the tax-to-GDP ratio seen since the financial crisis. The 2019 edition of the OECD’s annual Revenue […]

Young people struggling in digital world, finds latest OECD PISA survey

This article is brought to you in association with OECD. One in four students in OECD countries are unable to complete even the most basic reading tasks, meaning they are likely to struggle to find their way through life in an increasingly volatile, digital world. This is one of the findings of the OECD’s latest PISA […]

Donors must do more to align development finance with climate goals

This article is brought to you in association with OECD. Donor countries must do more to bring development finance in line with climate goals, raising the share used for climate action and reducing to zero the amount that supports new fossil fuel activities, according to a new OECD report. Aligning Development Co-operation and Climate Action: The […]

EU allocates €50 million to fight Ebola and malnutrition in the Democratic Republic of Congo

This article is brought to you in association with OECD. The European Commission has today announced €50 million to help the most vulnerable people affected by the Ebola epidemic in the Democratic Republic of Congo. The funding will address urgent needs and provide continued support to the Congolese population, notably to improve food security and access […]

Trade in counterfeit goods costs UK economy billions of euros

This article is brought to you in association with OECD. The global trade in fake goods, from cosmetics to car parts, is costing the UK economy billions of dollars a year in forgone company sales, overpriced products and tax revenues, and was behind more than 86,000 lost jobs in 2016, according to a new OECD report. […]

International trade statistics: trends in third quarter 2019

This article is brought to you in association with OECD. G20 international merchandise trade (in current US dollars, seasonally adjusted) continued its downward trend in the third quarter of 2019, approaching two-year lows. Compared with the second quarter of 2019, exports contracted by 0.7% and imports by 0.9%, partly reflecting a nearly 20% fall in oil […]

International community has achieved unprecedented success fighting offshore tax evasion

This article is brought to you in association with OECD. On 26-27 November, the 10th Anniversary Meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum) in Paris will bring together more than 500 delegates from 131 member jurisdictions for renewed discussions on efforts to advance the tax transparency […]

Economic Outlook: Weak trade and investment threaten long-term growth

This article is brought to you in association with OECD. Trade conflict, weak business investment and persistent political uncertainty are weighing on the world economy and raising the risk of long-term stagnation, according to the OECD’s latest Economic Outlook. World GDP growth is expected to be 2.9% this year – its lowest annual rate since the […]

Africa: Urgent action needed to mobilise domestic resources as tax revenues plateau

This article is brought to you in association with OECD. The average tax-to-GDP ratio for the 26 countries participating in the new edition of Revenue Statistics in Africa was unchanged at 17.2% for the third consecutive year in 2017. This was lower than the averages for Latin America and the Caribbean (LAC) at 22.8% and for the OECD at […]

Children paying a high price for inequality

This article is brought to you in association with OECD. Rising income inequalities in OECD countries over the past two decades have hit vulnerable children hard, making it less likely they will fulfill their economic and social potential later in life, according to a new OECD report. Changing the Odds for Vulnerable Children: Building Opportunities and […]

Revamp collective bargaining to prevent rising labour market inequalities in rapidly changing world of work

This article is brought to you in association with OECD. Collective bargaining and worker’s voice are key labour rights but can also improve labour market performances, according to new OECD findings. Yet both these rights are under pressure from the general weakening of labour relations in many countries and the rise of new and often precarious […]